New York & Company acquires plus fashion brand Fashion to Figure

New York & Company has announced that the company would acquire certain assets of Fashion to Figure, a US based retailer of plus-size fashion, including intellectual property rights related to the brand, for a cash purchase price of 1.4 million dollars and no more than 1 million dollars of fees and expenses. The company said in a statement that assets will be acquired by TFT Acquisition LLC, as the successful bidder at an auction run by Fashion to Figure, as part of its ongoing reorganization under Chapter 11 of the US Bankruptcy Code and will be subsequently acquired by New York & Company late in the fourth quarter of fiscal 2017.

Commenting on the development, Gregory Scott, New York & Company’s CEO stated in a media release: “We are excited to expand into the plus business with the acquisition of Fashion to Figure’s intellectual property, as we believe that the business the Kaplans built has true brand potential and has a brand platform that is compatible with New York & Company. We look forward to working with the Kaplans to reintroduce the brand to the marketplace and to Fashion to Figure’s loyal customers at the start of our new fiscal year.”

New York & Company acquires Fashion to Figure

The asset purchase agreement, the company added, covers all intellectual property, including trademarks, tradenames, an extensive customer database, and all in-store assets, with the exception of inventory. New York & Company is also anticipating hiring certain former employees of Fashion to Figure, including members of the design, merchandising and ecommerce teams, who are expected to join the company during the fourth quarter of fiscal year 2017. The company added that it will also be negotiating with certain market vendors in an effort to secure inventory for the anticipated relaunch in early 2018.

Fashion to Figure was founded in 2004 by Michael and Nicholas Kaplan, great-grandsons of Lena Bryant, the founder of the plus-size clothing chain Lane Bryant. The company said, closing of the transaction is expected to occur late in the fourth quarter of 2017, positioning the company to re-introduce a revitalized Fashion to Figure brand to the marketplace in early February 2018 through an online site and select Fashion to Figure stores.

Picture:Fashion to Figure website